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Davidstea Director Roland Walton Resigns From Board

DavidsTea Inc. says Roland Walton has resigned as a director.

Walton was elected to the company’s board of directors last month as part of a group of dissident nominees that replaced the existing board.

He is a former president of Tim Hortons Canada.

DavidsTea co-founder Herschel Segal led the shareholder revolt to replace the board at the company’s annual meeting in June.

The fight also resulted in the resignation of chief executive Joel Silver and saw Segal become executive chairman and interim CEO.

Segal has pledged that the chain of tea shops will become profitable within a year and focus on its Canadian roots.

“We thank Roland Walton for his contribution, particularly in the period leading up to the recent annual meeting of shareholders, and wish him the very best,” Segal said in a statement.





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